Homework Answers
| Wildhorse. Co | Sheffield Corp. | |
| Sales Revenue | $102,000 | $124, 200 |
| (-) Sales returns and allowances | $6,000 | $6,200 |
| Net sales | $96,000 | $118,000 |
| (-) Cost of Goods sold | $65,280 | $77,880 |
| Gross Profit | $30,720 | $40,120 |
| (-) Operating expenses | $16,320 | $20,060 |
| Net income | $14,400 | $20,060 |
Profit margin = Net income / Net sales
Wildhorse Co. = $14,400 / $96,000
= 15%
Sheffield Corp. = $20,060 / $118,000
= 17%
Gross Profit Rate = Gross profit / Net sales
Wildhorse Co. = $30,720 / $96,000
= 32%
Sheffield Corp. = $40,120 / $118,000
= 34%
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Current Attempt in Progress Financial information for two companies are presented below. Fill in the missing amounts. W...
Financial information for two companies are presented below. Fill in the missing amounts. Monty Corp. Whispering...
Financial information for two companies are presented below. Fill in the missing amounts. Monty Corp. Whispering Winds Corp. Sales revenue $90,000 $ Sales returns and allowances 5,000 Net sales 84,000 106,000 Cost of goods sold 53,760 Gross profit 40,280 Operating expenses 15,120 Net income 21,200 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Monty Corp. Whispering Winds Corp. Profit margin Gross profit rate
Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Company Sandhill...
Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Company Sandhill Company $95,400$ Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross proft Operating expenses Net income $4,000 81,600 150,000 55,800 49,000 14,680 18,000 List of Accounts Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, eg. 15.5%) Wildhorse Company Sandhill Company Net income 18,000 List of Accounts Calculate the profit margin...
Question 21 View Policies Current Attempt in Progress Presented below is information for Wildhorse Company for...
Question 21 View Policies Current Attempt in Progress Presented below is information for Wildhorse Company for the month of January 2022. Cost of goods sold $274,000 Rent expense $36.000 Freight-out 6,600 Sales discounts 5.100 Insurance expense 12.300 Sales returns and allowances 9.000 Salaries and wages expense 41.000 Sales revenue 423.000 Prepare a multiple-step income statement. WILDHORSE COMPANY Income Statement Type here to search List of Accounts Calculate the profit margin and the gross profit rate. (Round answers to 2 decimal...
Exercise 5-08 a-b Financial information for two companies are presented below. Fill in the missing amounts....
Exercise 5-08 a-b Financial information for two companies are presented below. Fill in the missing amounts. Metlock, Inc. Larkspur, Inc. Sales revenue $86,000 $enter a dollar amount Sales returns and allowances enter a dollar amount 4,600 Net sales 80,000 102,000 Cost of goods sold 53,600 enter a dollar amount Gross profit enter a subtotal of the two previous amounts 36,720 Operating expenses 14,400 enter a dollar amount Net income enter a total net income 17,340 Calculate the profit margin and...
Financial information for two companies are presented below. CALCULATOR COURCES napter 5 Fill in the missing...
Financial information for two companies are presented below. CALCULATOR COURCES napter 5 Fill in the missing amounts. -08 -09 - 10 -11 Sales revenue Whispering Winds Corp. Metlock, Inc. $88,000 b Sales returns and allowances 4,800 Net sales Study 82,000 104,000 Cost of goods sold 53,300 Gross profit 38,480 Operating expenses 14,760 Net income 19,760 Calculate the profit margin and the gross profit rate for each company. (Round answers to o decimal place Whispering Winds Corp. Metlock, Inc. % Profit...
Exercise 5-08 a-b Financial information for two companies are presented below. Fill in the missing amounts....
Exercise 5-08 a-b Financial information for two companies are presented below. Fill in the missing amounts. Windsor, Inc. Sheridan Company $82,000 Sales revenue Sales returns and allowances 4,200 Net sales 92,000 76,000 52,440 Cost of goods sold Gross profit 33,120 Operating expenses 13,680 Net income 12,880 Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.) Windsor, Inc. Sheridan Company Profit margin % Gross profit rate Click if you would...
I need help with this question. Thank You. Financial information for two companies are presented below....
I need help with this question. Thank You.
Financial information for two companies are presented below. Fill in the missing amounts. Swifty Corporation Marigold Corp. $74,000 $ Sales revenue Sales returns and allowances 3,400 Net sales 68,000 84,000 Cost of goods sold 51,000 Gross profit 26,880 Operating expenses 10,880 Net income 8,400 eTextbook and Media 10:59 A A 44922/ uporacy Aporoc Net income 8,400 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round...
Presented below is financial information for two different companies. Compute the missing amounts. Windsor Company Sheridan...
Presented below is financial information for two different companies. Compute the missing amounts. Windsor Company Sheridan Company Sales revenue 96,570 (d) Sales returns and allowances (a) 5,420 Net sales 81,960 94,350 Cost of goods sold 55,730 (e) Gross profit (b) 40,900 Operating expenses 15,070 21,380 Net income (c) 19,520
Exercise 3-15 Presented below is financial information for two different companies. Compute the missing amounts. Stellar...
Exercise 3-15
Presented below is financial information for two different
companies.
Compute the missing amounts.
Stellar Company
Pearl Company
Sales revenue
81,200
(d)
Sales returns and allowances
(a)
5,450
Net sales
80,740
85,710
Cost of goods sold
57,090
(e)
Gross profit
(b)
36,450
Operating expenses
15,680
23,960
Net income
(c)
12,490
Financial information for two compani 9 Fill in the missing amounts. Larkspur, Inc. Windsor, Inc. Sales...
Financial information for two compani 9 Fill in the missing amounts. Larkspur, Inc. Windsor, Inc. Sales revenue $84,000 Sales returns and allow 4,400 100,000 Net sales Cost of goods sold Gross profit 34,000 Operating expenses Net income 16,000 e Textbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, eg. 15.5%.) Larkspur, Inc. Windsor, Inc. Profit margin Gross profit rate
Financial information for two companies are presented below. Fill in the missing amounts. Monty Corp. Whispering Winds Corp. Sales revenue $90,000 $ Sales returns and allowances 5,000 Net sales 84,000 106,000 Cost of goods sold 53,760 Gross profit 40,280 Operating expenses 15,120 Net income 21,200 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Monty Corp. Whispering Winds Corp. Profit margin Gross profit rate
Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Company Sandhill Company $95,400$ Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross proft Operating expenses Net income $4,000 81,600 150,000 55,800 49,000 14,680 18,000 List of Accounts Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, eg. 15.5%) Wildhorse Company Sandhill Company Net income 18,000 List of Accounts Calculate the profit margin...
Question 21 View Policies Current Attempt in Progress Presented below is information for Wildhorse Company for the month of January 2022. Cost of goods sold $274,000 Rent expense $36.000 Freight-out 6,600 Sales discounts 5.100 Insurance expense 12.300 Sales returns and allowances 9.000 Salaries and wages expense 41.000 Sales revenue 423.000 Prepare a multiple-step income statement. WILDHORSE COMPANY Income Statement Type here to search List of Accounts Calculate the profit margin and the gross profit rate. (Round answers to 2 decimal...
Financial information for two companies are presented below. CALCULATOR COURCES napter 5 Fill in the missing amounts. -08 -09 - 10 -11 Sales revenue Whispering Winds Corp. Metlock, Inc. $88,000 b Sales returns and allowances 4,800 Net sales Study 82,000 104,000 Cost of goods sold 53,300 Gross profit 38,480 Operating expenses 14,760 Net income 19,760 Calculate the profit margin and the gross profit rate for each company. (Round answers to o decimal place Whispering Winds Corp. Metlock, Inc. % Profit...
Exercise 5-08 a-b Financial information for two companies are presented below. Fill in the missing amounts. Windsor, Inc. Sheridan Company $82,000 Sales revenue Sales returns and allowances 4,200 Net sales 92,000 76,000 52,440 Cost of goods sold Gross profit 33,120 Operating expenses 13,680 Net income 12,880 Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.) Windsor, Inc. Sheridan Company Profit margin % Gross profit rate Click if you would...
I need help with this question. Thank You.
Financial information for two companies are presented below. Fill in the missing amounts. Swifty Corporation Marigold Corp. $74,000 $ Sales revenue Sales returns and allowances 3,400 Net sales 68,000 84,000 Cost of goods sold 51,000 Gross profit 26,880 Operating expenses 10,880 Net income 8,400 eTextbook and Media 10:59 A A 44922/ uporacy Aporoc Net income 8,400 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round...
Presented below is financial information for two different companies. Compute the missing amounts. Windsor Company Sheridan Company Sales revenue 96,570 (d) Sales returns and allowances (a) 5,420 Net sales 81,960 94,350 Cost of goods sold 55,730 (e) Gross profit (b) 40,900 Operating expenses 15,070 21,380 Net income (c) 19,520
Exercise 3-15
Presented below is financial information for two different
companies.
Compute the missing amounts.
Stellar Company
Pearl Company
Sales revenue
81,200
(d)
Sales returns and allowances
(a)
5,450
Net sales
80,740
85,710
Cost of goods sold
57,090
(e)
Gross profit
(b)
36,450
Operating expenses
15,680
23,960
Net income
(c)
12,490
Financial information for two compani 9 Fill in the missing amounts. Larkspur, Inc. Windsor, Inc. Sales revenue $84,000 Sales returns and allow 4,400 100,000 Net sales Cost of goods sold Gross profit 34,000 Operating expenses Net income 16,000 e Textbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, eg. 15.5%.) Larkspur, Inc. Windsor, Inc. Profit margin Gross profit rate
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